At Business Insider, Joe Weisenthal published an remarkable graphic originally from Stifel Nicolaus. It shows equities and commodities over the last 140 years and presents a strong bullish signal for equities – at least by this measure:
Source:
“A Big, Beautiful, and Bullish 140-Year Look at Equities Vs. Commodities” Joe Weisenthal, BusinessInsider, 3/10/11. https://www.businessinsider.com/a-big-beautiful-and-bullish-look-140-year-look-at-equities-vs-commodities-2011-3
